Pomplamoose Rocks Hall and Oates: "Rich Girl"

wheat-dogg, raker of forests, master of steam7/05/2018 10:17:59 pm PDT

re: #39 austin_blue

That’s the root of it, isn’t it? A trade war with China will cut off supplies or seriously raise the cost of cheap Chinese goods sold to lower middle class and poor Americans who depend on the Walmart model to dress their kids and make their lives affordable.

Imagine if all sundries, which we don’t make a lot of anymore, increased by 35%. I’d get by. I’m retired and have a fairly large chunk of money in really safe financial instruments, backed up by the Feds.

But for a large group of Americans and their kids, many of them Trump supporters, that kind of price shock would reduce them to eating Ramen and Vienna sausages.

It’s just stupid as shit to do this.

But really, I’m not at all surprised. The POTUS is a maroon.

China has adjusted the dollar-yuan exchange rate to make the yuan cheaper against the dollar, which will help keep import prices (for US businesses) low, so China can keep its export economy humming. But that can’t last forever, especially if Trump keeps raising the ante. China has complained to the WTO, as I believe other countries have. Trump will naturally ignore the WTO, and probably try to withdraw from it, because America First!